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Question,
How do the banks lose "real" money on a foreclosure?
I mean they get whatever was paid in for downpayment, if any payments were made with interest, and they get the fucking house back to resell. Also, how many times have the houses been resold.
Sure property values drop, that is the same risk the buyer is taking also.
The banks also go after the people for the Difference in price sold to price owned.
If they lose money they can write it off on taxes.
Banks can get insurance against the loan also.
Then now the big Bailout.
If you ask me banks can fuck off!
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